Nowadays so many alternatives are available to paper currency.
Trend is increasing day by day and I personally believe there is much more potentials of digital currency in future.
What are your views
Digital currency is already in use in urban areas for medium and large sized transections.
It will spread further in future.
I agree with Shibabrata Pattanayak and Remi Okeke. They both make good points.
Perhaps the most well known crypto-currency on the market, Bitcoin is like digital gold. There is a finite supply that can be ‘mined’ every year using sophisticated software. This is called blockchain technology, we'll go into more detail about blockchain in a future post.
https://digitaleconomyforum.org/chapter-2-the-future-of-digital-currency-bitcoin/
Monetary tools will become technically digital, say in the next 20-30 years of exponential knowledge automation. However, the core problems of our global monetary production economy remain unsolved, e.g. the necessary separation of credit (interest) and money, the 'dualism' of central and private banks, the influence of monetary behavior on economic cycles,...Also Gresham's law (see:pdf) should be mentioned: bad money will always drive out good money.
In future the use is likely to increase. Compared to paper currency, digital currency is more safe and easy to handle.
The future of cryptocurrencies is uncertain because they undermine the role of central banks and commercial banks and claim the right to total non-transparency of exchange. Nobody knows who owns much and how much following the big speculative bubble of 2017 incomparable to traditional foreign exchange rate changes. The frenzy was also for ICOs.
First bought, fast rich. There are many legal problems with digital currencies and smart contracts based on blockchain technologies. Regulators wait and see, their approach to what cryptocurrencies are
varies in major countries. At the moment they are not considered financial instruments in any particular country. In the U.S.A. three different financial organs treat crypto differently (taxing problems). A major step forward was the introduction of futures contracts in the U.S.A.. CFD contracts are available on most Internet brokers sites (they are quite expensive to trade, the spread is enormous, the volatility is enormous). My analyses show that cryptocurrencies behaviour is similar to mature foreign exchange markets and they exhibit properties of chaos determinism, that is the emergence of triggers, fractal expansions, quite strong dissipative forces (which is surprising as there is no short selling allowed on major exchanges and practically no leverage allowed). Big names and fat fingers mostly stand by. The market movements are caused by hundreds of thousands of small players. Freud and theft are not rife but when they happen they gain the attention of the opponents and mass media.
Every thing has life cycle, it will be the same of the really currency's life cycle
I have no information about digital currency.
I shall follow the answers.
//// Good luck ////
The paper currency will remain, and the digital currency should become more dynamic among people today .. because it simply solve a lot of purchasing things
The question is more general than suggested by the answer of
Aleksandar Jovanovic.
Whether he knows it or not he refers to ICOs, Initial Coin Offerings, not to the entire crypto exchange market.
In the course of last year several countries, like China, South Korea banned ICOs. Some central bankers issued warnings of possible freud with ICOs.
Secondly, those ICOs do not have any pyramidal structures like Ponzi schemes or network marketing organisations.
Third, the question pertains to three areas of Disruptive Financial Innovations, namely Digital Currencies, Tokens and Applications all of which are popularly called Digital Currencies. Those three areas have some common points but it is important to distinguish them as they generate different legal, regulatory and trading problems.
It is worthwhile to read more about the blockchain technology and the ideas behind the innovative financial projects. The emergence of Bitcoin, Ethereum and some other major cryptocurrencies and their development to the tune of today's rates of exchange was a massive worldwide response to mainstream economics, to the aftermath of the subprime crisis and the lies and lullabies of Wall Street elites, a response to the hegemony of the US dollar worldwide as well.
You can have your own Token today for little money indeed. What will you do with it, is another question. What would other people do with it if they bought it is still another question. The revolt of the young and angry is best shown in the case of a Token which was named Good For Nothing Token which generated a handsome money for its sincere owner (collected almost $15,000 and a lot of other cryptos). Funny, isn't it?
The promising thing about Digital Currencies is that it is an unattractive mode for crime and terrorism, contrary to common belief, for reasons I will not mention here but you can read it in the reports of the EU.
Era of digitization is coming. There are digital books, digital documents, digital signatures and digital currency. In the future there will probably be only a digital currency. Governments and banks will be involved in that.
Aleksandar Jovanovic,
It does not change the fact that your first post about the vacuum pyramidal rich cowboys is misleading.
I think it will dominate every thing in our life. Best regards
That it is only a matter of time until the time is right for all these governments to take the fait accompli and decide and act in that currency ...
That it is only a matter of time until the time is right for all these governments to take the fait accompli and decide and act in that currency .
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